South Sea Bubble
Our recent economic turmoil has put me in mind of prior economic woes in history. One of the worst occurences was the South Sea Bubble of 1720 in England. It has many disturbing analogies to what is happening today. The South Sea Company was founded in 1711 and was granted exclusive trading rights in Spanish South America. Ostensibly a trading company its real main purpose was the funding of the English government debt. The company's stock price took off in a trading frenzy. The price went in the course of one year from 100 pounds to 1,000 pounds and people from all walks of life were frantic to buy the shares. In August of 1720 the price started to fall which created bankruptcies and increased short selling-selling borrowed shares in the hope of buying them back at a profit if the price fell. There were bank failures and thousands of individuals were ruined and there was a parliamentary investigation into government fraud and corruption in the Cabinet. Among the individuals who lost a fortune was Sir Isaac Newton who lost 20,000 pounds which was an enormous sum for that time.

Last weekend, I took a quick trip to California to visit some friends. I decided to take a red-eye flight to make the most of the short time that I had, and boy, am I lucky I chose that flight! After passing through security at the Los Angeles International Airport, I sat down off to the side to put my shoes on and re-organize my belongings. As I was fussing with my own shoes, I noticed a pair of shoeless feet sitting down next to me. Now, generally, I'm completely oblivious to people, and rarely actually look at people's faces. However, I happened to be intrigued by the shoes that were being put on next to me, and wanted to see who the owner was - and it turned out to be Keanu Reeves. After a triple take, a moment or two of bewilderment, and some attempts at breathing normally, I mustered up the courage to say, "Hi!" To which he responded, "hi." (Oh, glorious day!) I did manage to squeak out a brief conversation with him, and I asked him if I could have a picture, to which he so kindly and graciously agreed. At the end, I shook his hand and said "I'm Merry," and he smiles, nods and answers "Keanu." Just in case I wasn't sure. We parted ways, but I saw him again as I passed him on the plane (and he smiled at me!), and a final time as he was waiting for his luggage down at JFK Airport. 